Governor Cuomo's trainwreck in progress:
The school district faces a $5 million gap, between the funds it will get in state aid and local taxes and the amount it will need to spend.
Districts that are low wealth are supposed to be weighted so that they receive more state aid. Fulton is highly dependent on state aid, which comprises 60 percent of the revenue stream.
The district anticipates another cut in state aid this year while abiding to two-percent tax levy cap. The revenue raised by a two-percent increase in the levy equates to only $388,000 for the district.
The two principal ways that you can derive revenue have really been taken away from you, Porter said. Youre somewhat handcuffed by these two limitations. When you think about salary increases that youre contractually bound to, increases in pension costs, mandated by the state, and insurance increases, $388,000 doesnt go very far in an operation of your size. In fact, it doesnt even move the needle.
http://www.valleynewsonline.com/viewnews.php?newsid=88094&id=1
I do know this - some of the best teachers at the high school have already taken early retirement. Also, an excellent Latin language program has been eviscerated. Plus - all funding for the annual musical was cut.